Bengaluru: Third Wave Coffee, India’s homegrown coffee and food QSR brand, has raised INR 408 crore ($43 million) in a funding round led by existing investor WestBridge Capital.
The funding round comprises a mix of primary and secondary capital and also saw participation from Creagis and other angel investors.
The latest Third Wave Coffee funding will support the company’s next phase of expansion, with capital being directed towards geographic growth in existing markets, increasing its presence in high-potential cities and strengthening its ability to cater to a wider range of consumer occasions.
The company will also use the fresh capital to accelerate Third Rush Desserts, its new dessert segment launched earlier this year.
Third Wave Coffee Plans Expansion Across India
Over the past year, Third Wave Coffee has accelerated its national expansion, entering new markets including Ahmedabad, Mangalore and Agra. The company has also strengthened its presence across Delhi, NCR, Hyderabad, Chennai, Mumbai and Pune.
In June 2026, Third Wave Coffee entered East India with three cafés in Kolkata, marking another significant step in its geographic expansion strategy.
The company is also evaluating opportunities in other eastern markets, including Guwahati, Ranchi, Patna and Bhubaneswar.
Rajat Luthra, CEO, Third Wave Coffee, said, “Third Wave Coffee has reached an important point in its journey. We currently operate more than 240 cafés across India and are aiming to reach 320 cafes by fiscal end. By next month, we will be entering 8 new geographies.
Over the years, we have built a strong consumer proposition, and our focus remains on scaling the business sustainably, with strong unit economics, healthy store payback economics, operational discipline and a consistent customer experience.
This fundraise will help us accelerate our expansion across the country while strengthening new categories, with desserts being an important part of the journey. Our vision to add 100 new cafes every year; reflects the significant opportunity we see ahead.”
The Third Wave Coffee expansion is expected to focus on building greater store density in high-potential cities while maintaining operational discipline and a consistent customer experience.
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Third Wave Coffee to Scale Third Rush Desserts
Alongside its core coffee business, Third Wave Coffee is continuing to expand its food and beverage offerings through new categories and consumption occasions.
The company is scaling Third Rush Desserts, the dessert segment it launched earlier this year. The latest funding will help accelerate the category as part of the company’s broader growth strategy.
Third Wave Coffee is also expanding its F&B innovation through signature brews beyond coffee, all-day menus, seasonal and festive Limited-Time-Offerings, breakfast and savoury formats, and new occasion-led consumption propositions.
The company’s strategy is aimed at expanding its offerings beyond its core coffee proposition while creating a wider range of products and formats for consumers.
WestBridge Capital Continues Partnership
The latest Third Wave Coffee investment builds on WestBridge Capital’s longstanding partnership with the company.
WestBridge Capital led Third Wave Coffee’s $21 million Series B funding round in 2022, following its $6 million Series A funding round in 2021.
Sandeep Singhal, Co-founder & Managing Partner, WestBridge Capital, added: “Coffee is becoming an increasingly important consumer category in India, and Third Wave Coffee has built a strong position through its relentless focus on quality and execution.
Rajat, Anirudh and the entire team have built an exceptional business, and we are excited to continue partnering with them as they scale the brand across the country.”
With the latest Third Wave Coffee funding, the company plans to accelerate its geographic expansion, increase its presence in existing markets and scale new growth categories, including Third Rush Desserts.
